Correlation Between GREENWICH ASSET and C I
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By analyzing existing cross correlation between GREENWICH ASSET ETF and C I LEASING, you can compare the effects of market volatilities on GREENWICH ASSET and C I and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in GREENWICH ASSET with a short position of C I. Check out your portfolio center. Please also check ongoing floating volatility patterns of GREENWICH ASSET and C I.
Diversification Opportunities for GREENWICH ASSET and C I
-0.44 | Correlation Coefficient |
Very good diversification
The 3 months correlation between GREENWICH and CILEASING is -0.44. Overlapping area represents the amount of risk that can be diversified away by holding GREENWICH ASSET ETF and C I LEASING in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on C I LEASING and GREENWICH ASSET is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on GREENWICH ASSET ETF are associated (or correlated) with C I. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of C I LEASING has no effect on the direction of GREENWICH ASSET i.e., GREENWICH ASSET and C I go up and down completely randomly.
Pair Corralation between GREENWICH ASSET and C I
Assuming the 90 days trading horizon GREENWICH ASSET ETF is expected to generate 0.58 times more return on investment than C I. However, GREENWICH ASSET ETF is 1.71 times less risky than C I. It trades about 0.0 of its potential returns per unit of risk. C I LEASING is currently generating about -0.13 per unit of risk. If you would invest 53,400 in GREENWICH ASSET ETF on November 4, 2024 and sell it today you would lose (400.00) from holding GREENWICH ASSET ETF or give up 0.75% of portfolio value over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Against |
| Strength | Very Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
GREENWICH ASSET ETF vs. C I LEASING
Performance |
| Timeline |
| GREENWICH ASSET ETF |
| C I LEASING |
GREENWICH ASSET and C I Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with GREENWICH ASSET and C I
The main advantage of trading using opposite GREENWICH ASSET and C I positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if GREENWICH ASSET position performs unexpectedly, C I can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in C I will offset losses from the drop in C I's long position.| GREENWICH ASSET vs. VETIVA GRIFFIN 30 | GREENWICH ASSET vs. VETIVA BANKING ETF | GREENWICH ASSET vs. STANBIC IBTC ETF | GREENWICH ASSET vs. LOTUS HALAL EQUITY |
| C I vs. GUINEA INSURANCE PLC | C I vs. SECURE ELECTRONIC TECHNOLOGY | C I vs. VFD GROUP | C I vs. IKEJA HOTELS PLC |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
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